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ID 41591
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Title Alternative
On Mimicking as a Sequential Policy Implementation
Author
Fujimoto, Toshimi
Abstract
The basic structure and functions of the so-called "mimicking" regime of macroeconomic policy-making are investigated here by using a simple one-instrument (money supply)-and-two-targets (inflation and employment) policy model composed of aggregate Lucas-type supply and ordinary demand functions in such a framework of 2-period sequential equilibrium analysis as Persson and Tabellini used, with a seemingly minor but consequently important change in one of the assumptions Persson and Tabellini posited. The assumption is the one concerned with the tough-type government's trade-off between the two targets, and the change is shown to result in a more economically interpretable criterion by which the weak-type can choose between pooling equilibrium with mimicking and separating one without it.
Note
論説 (Article)
Published Date
1997-09-05
Publication Title
岡山大学経済学会雑誌
Publication Title Alternative
Okayama Economic Review
Volume
volume29
Issue
issue2
Publisher
岡山大学経済学会
Publisher Alternative
The Economic Association of Okayama University
Start Page
1
End Page
23
ISSN
0386-3069
NCID
AN00032897
Content Type
Journal Article
language
日本語
File Version
publisher
Refereed
True
Eprints Journal Name
oer